Tag Archives: population
Why is the employment-to-population ratio still low despite the very low unemployment rate in the U.S.?
My answer on Quora: This is one of the biggest labor market questions and challenges in the U.S. economy. The straight answer is that the labor force participation rate sharply declined for years after the 2008 financial crisis before finally stabilizing in 2016. The real question is why fewer people are participating in the labor force. An […]
My answer on Quora: Population is important, but productivity is most important for long-term economic growth. Throughout most of history before the Industrial Revolution, an economy could only grow about as fast as its population. The Industrial Revolution and the new technologies brought into the production process allowed firms to produce much more than they were ever capable […]